RUTANG CORP., A FLORIDA CORPORATION, APPELLANT,
v.
MIAMI FINANCE CORP., A FLORIDA CORPORATION, APPELLEE
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The appellate court affirmed a lower court's decision, finding substantial evidence supported the chancellor's ruling that a transaction was a valid loan and not a disguised sale tainted with usury. The court found no errors of law.
No, the trial court did not err. There was substantial evidence to support the chancellor's findings, and no errors of law were made to appear.
“A review of the record in the light of' the briefs and arguments reveals there was substantial evidence to support the chancellor's finding.”
This quote establishes the appellate court's basis for affirming the lower court's factual findings.
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Join FLexlaw to unlock all legal intelligenceRutang Corp. (appellant) sought to have a transaction declared a loan rather than a sale of assets. The parties had labeled it a sale. The trial court…
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The plaintiff sought to have the chancellor declare a certain transaction, a loan rather than a sale of assets as it had been labeled by the parties. The trial court determined the issue at trial adversely to the plaintiff. Three assignments of error are .argued:
“1. The court erred in entering the Final Decree the 29th day of May, 1958, and recorded in Chancery Order Book 1340, page 481.
“2. The court erred in finding the equities of the cause to be with the Defendant and against the Plaintiff.
“3. The court erred in finding that the contract, agreement and dealing between the parties were valid and lawful and not tainted with usury.”
The appellant has urged that we should reverse the chancellor’s finding. A review of the record in the light of’ the briefs and arguments reveals there was substantial evidence to support the chancellor’s finding. No error of law has been made to appear.
Affirmed.
CARROLL, CHAS., C. J., and HORTON and PEARSON, JJ., concur.
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